D-FW has seen explosive growth in the number of millionaire households choosing to rent rather than own their homes in recent years, but the Metroplex still has some catching up to do with H-Town.
The number of millionaire renter households in the Dallas metro area surged 450% between 2020 and 2024, increasing from just 30 to 165. That was enough to rank D-FW eighth nationally for millionaire renter growth, though it was nowhere near Houston’s whopping 1,189% increase, which earned the most populous city in Texas the top spot, according to a study by RentCafe.
Houston’s millionaire renter population grew from just 18 households in 2020 to 232 in 2024, outpacing every other major metro in the country. Naples, Florida, ranked second with a 986% increase, followed by Miami at 955%, Seattle at 790%, and Los Angeles at 609%.
RentCafe defined millionaire households as those earning at least $1 million annually, rather than those with a net worth of $1 million or more. The analysis relied on U.S. Census Bureau American Community Survey data.
The growing appetite for high-end rentals comes as developers across North Texas continue adding upscale apartment communities with amenities traditionally associated with luxury hotels and resorts…